Contravisory Investment Management Inc. Takes Position in CVR Energy Inc. $CVI

Key Points

• Contravisory Investment Management Inc. has taken a new position in CVR Energy, acquiring 10,132 shares worth approximately $272,000.
• CVR Energy's stock performance shows a 12-month high of $34.04 and a 12-month low of $15.10, with shares currently trading around $33.86.
• Analysts have downgraded CVR Energy's stock rating, with the current consensus being a "Strong Sell", and an average target price of $23.25.

Contravisory Investment Management Inc. purchased a new stake in CVR Energy Inc. (NYSE:CVI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,132 shares of the oil and gas company's stock, valued at approximately $272,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its holdings in shares of CVR Energy by 65.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company's stock valued at $32,000 after buying an additional 646 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of CVR Energy by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,443 shares of the oil and gas company's stock valued at $364,000 after buying an additional 683 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of CVR Energy by 2.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 31,707 shares of the oil and gas company's stock valued at $615,000 after buying an additional 759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of CVR Energy by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company's stock valued at $1,130,000 after buying an additional 1,035 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of CVR Energy by 106.6% in the 1st quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock valued at $42,000 after buying an additional 1,114 shares during the period. Institutional investors and hedge funds own 98.88% of the company's stock.

CVR Energy Stock Up 3.4%

Shares of CVR Energy stock traded up $1.16 during trading hours on Monday, reaching $35.42. 2,745,829 shares of the company's stock were exchanged, compared to its average volume of 2,313,078. The company has a 50 day moving average of $29.11 and a two-hundred day moving average of $24.79. CVR Energy Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $35.65. The company has a current ratio of 1.17, a quick ratio of 0.75 and a debt-to-equity ratio of 2.78. The stock has a market cap of $3.56 billion, a P/E ratio of -10.67 and a beta of 1.32.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company earned $0.09 earnings per share. The company's quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVI. Mizuho reaffirmed an "underperform" rating and issued a $29.00 target price (up from $27.00) on shares of CVR Energy in a research note on Monday, September 15th. Scotiabank upped their target price on shares of CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a research note on Friday, July 11th. Raymond James Financial lowered shares of CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. Finally, Zacks Research raised shares of CVR Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Strong Sell" and an average price target of $23.25.

CVR Energy Company Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.